Market Trends of Singapore MVNO Industry
Voice to be the Largest Service Type
- The growth of interdepartmental communications in business organizations and the increasing importance of customer services as a differentiation strategy in all businesses are increasing the demand for voice services in Singapore due to their applications calling, fax connectivity, business fixed line connectivity for calling, interactive voice response, supporting the demand of voice-based offerings of the MVNOs in Singapore in the future.
- The country has been registering significant growth in the commercial infrastructures supported by the expansion of global companies in the healthcare, BFSIs, and other sectors by constructing their office locations in the country, which may fuel the requirement for voice-based telecom services in the office premises and is expected to fuel the market’s growth of MVNOs in Singapore.
- Additionally, the telecommunication companies in the Singapore market are offering voice-based plans to offer unlimited local calls with value-added services such as call logs, call forwarding, call transfer, call waiting, 2-digital speed dial, automatic callback, three-way conference, internal team messaging, supporting their growth adoptions in the telecom market and becoming a competitive strategy for growth in market share, which may fuel the market’s growth of voice telecom services in the Singapore MVNO market.
- The country has registered many fixed line connections in the corporate, businesses, and residential segments in the last two quarters of 2023 (From July to Dec 2023). The Infocomm Media Development Authority (IMDA) of Singapore has published that Total Residential Line Subscriptions and Total Corporate/Business Line Subscriptions from July to Sep were 1,198,200 and 743,000, respectively.
- Additionally, the number was 1,193,300 and 718,800 from October to December for 2023, showing the high market potential of voice services through fixed lines in the country. However, the number of people in the country can be impacted by the emergence of VoIP(Voice over Internet Protocols) and video calling services.
- Therefore, the growth of office premises in the country and the market potential of existing fixed-line services in the residential and business segments are creating an opportunity for Singaporean MVNOs to offer voice services to support the overall MVNO market during the forecast period.
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Data Segment to Witness Major Growth
- The country’s emerging economy, supported by the growth of digital technology integrations in the business segment, the enhancement of online service, digital payments, and the usage of connected devices, has raised the demand for high-speed internet, driving the market demand for telecom data services, supporting the growth of MVNOs in the country. According to Speedtest, Singapore had the fastest fixed broadband internet speed globally, with an average of 278 Mbps as of January 2024.
- Moreover, the demand for low-cost and high-speed data in the consumer segments due to the increasing competition in the Singapore telecom industry is creating an opportunity for MVNOs due to their capability to offer customizable, low-cost, and high-speed data services by using reliable telecom networks from the infrastructure providers, supporting the growth of data services in the MVNO market of the country.
- Additionally, the customized data plan and marketing campaign developed by the MVNOs in the country, including Giga by Singtel and Gomo, among others, to attract new customers to use their data plans, are supporting the growth of Data services in the country’s MVNO market during the forecast period.
- The growth of connected devices, household usage of the internet for entertainment and smart home solutions, and the increasing usage of computer systems in the enterprise are raising the demand for the internet in the country, which may support the growth of data services of MVNOs in Singapore.
